Advtech says it will carry on operations at the Bryan Hattingh Group as usual, although with a rationalised focus and a possible name change after founder Bryan Hattingh and three other directors quit the group.
The technology education and staffing group will continue its consolidation plans by reverting the business of the Bryan Hattingh Group (BHG) to its original core business of executive search and independent services. The former is an executive placement company operated on a retainer basis, and the latter a contracting service. Advtech bought into the recruitment group in 1999.
Advtech chairman Brian Buckham says a possible change of name for the group may be on the cards after Bryan Hattingh, Michele Hattingh, Doug Leather and John Venter left the listed company after their contracts expired at the end of last year.
The ex-directors are to pursue individual business ventures.
Buckham says he sees no reason for the Advtech share price to be affected by the lack of the BHG namesake or his co-workers.
"The business is under transition, but we will focus on its original core operations, which we feel to be more in line with the group`s consolidation process."
Buckham says Advtech`s Australian operations are performing well and the group will definitely be looking to grow its international divisions. However, he says this will happen organically rather than through acquisitions.
The Advtech share price jumped 23% two weeks ago on news that a conditional offer to buy the Advtech business was received by the group.
Buckham says the corporate advisors appointed by the group will look into all offers of purchase and says Advtech shareholders will be kept informed.
The share price continued its upward movement today, increasing by 2c or nearly 5% to trade at 43c by noon.
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